PZG - Pamodzi Gold - Update On Status Of Pamodzi Gold

PZG - Pamodzi Gold - Update On Status Of Pamodzi Gold                           
Pamodzi Gold Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 2002/013039/06)                                            
Share code: PZG                                                                 
ISIN: ZAE000088563                                                              
("Pamodzi Gold" or "the Company")                                               
UPDATE ON STATUS OF PAMODZI GOLD                                                
Further to the announcement released on SENS on 17 September 2009, and as       
indicated therein, the court has sanctioned the sale of Pamodzi Gold Free       
State assets to Harmony Gold Mining Company Limited on 15 September 2009.       
Furthermore a liquidation application lodged by the Industrial Development      
Corporation ("IDC") against Pamodzi Gold has been served on the Company,        
which application has been set down to be heard on 2 November 2009.             
Without the Free State assets, the inclusion of which was a condition for       
the CADF funding, the CADF funding is no longer a viable option.                
As a result of the above, the Board of Directors of Pamodzi Gold have           
resolved not to oppose the liquidation application lodged against the           
Company by the IDC, as there is no reasonable prospect of the claim being       
satisfied.                                                                      
Bruma                                                                           
18 September 2009                                                               
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 18/09/2009 12:14:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.